Investing.com - Copper futures held near a seven-week low on Tuesday, as investors looked ahead to U.S. durable goods data due out later in the session to gauge the strength of the economy.
Investors also remained cautious ahead of the Federal Reserve’s highly anticipated policy meeting due to begin later Tuesday, with some expecting the central bank to cut its bond buying program to USD65 billion from the current USD75 billion.
The Fed announced its first cut to the USD85 billion in monthly bond purchases in December, citing an improving economy.
On the Comex division of the New York Mercantile Exchange, copper futures for March delivery hit a session low of USD3.252 a pound, the weakest level since December 10, before turning higher to trade at USD3.266 a pound during European morning trade, up 0.2%.
The March copper contract settled 0.38% lower on Monday to end at USD3.259 a pound. Copper prices were likely to find support at USD3.247 a pound, the low from December 10 and resistance at USD3.287 a pound, the high from January 27.
Elsewhere on the Comex, gold for April delivery fell 0.75% to trade at USD1,253.90 a troy ounce, while silver for March delivery dipped 0.25% to trade at USD19.74 a troy ounce.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Copper trades near 7-week low ahead of U.S. durable goods data, Fed
Published 01/28/2014, 04:43 AM
Copper trades near 7-week low ahead of U.S. durable goods data, Fed
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.